Other Economic Development Resources

Jersey City Department of Housing & Economic Development
30 Montgomery Street - Suite 900
Jersey City, NJ 07302
201-547-5070

Jersey City Redevelopment Agency
30 Montgomery Street - Suite 910
Jersey City, NJ 07302
201-547-5810

New Jersey Economic Development Authority
Capitol Place One CN 990
Trenton, NJ 08625
609-292-1800

The New Jersey Economic Development Authority was empowered by the State Legislature in 1974 to provide loans, loan guarantees, and other forms of financial assistance to both new and existing businesses.

The Authority offers a variety of programs, the most important of which are listed and described briefly below:

Urban Centers Small Loan Program: Retail business property renovations from $5,000 to $50,000 at interest rate 1% below Federal discount rate.

Loan Pool for Small Business: Tier I loans for both fixed asset and working capital in amounts from $50,000 to $1 million for periods up to ten years.

Bond Financing: Helps companies obtain long-term financing through the issuance of both taxable and nontaxable bonds.

Direct Loans: For businesses unable to obtain sufficient bank credit. $500,000 for fixed assets and $250,000 for working capital for up to ten years at the Federal discount rate.

Loan Guarantees: Helps credit-worthy businesses obtain additional security for private financing.

Local Development Financing Fund: Fixed asset loans in amounts from $25,000 to $2 million at 4% interest for up to 25 years.

Trade Adjustment Assistance Centers: A program for manufacturers adversely affected by foreign competition. Assistance seeks to improve competitiveness.


New Jersey Urban Development Corporation
CN 990
Trenton, NJ 08625
609-633-1100

In addition to these two lead organizations, the New Jersey Urban Development Corporation offers several business assistance programs to consider:

The Urban Small Business Incubator: Loans up to $200,000 to help establish local small business incubators.

Neighborhood Development Corporation: Financing packages up to $500,000 to help establish local development projects.

Direct loan programs: Available up to $3 million at below-market rates for land acquisition, construction, renovation, or purchase of capital equipment.


New Jersey Division of International Trade
28 West State Street
8th floor
Trenton, NJ 08625
609-633-3606

Finally, for those companies that depend on a share of the international pie for their revenues, the New Jersey Division of International Trade can provide valuable advice, help in the form of matchmaker services, and access to trade missions and foreign trade shows for interested businesses.

Aside from loan programs and the assistance provided by the above-mentioned organizations, counseling services for businesses are available from two local colleges as well as the Jersey City Economic Development Corporation.

Hudson County Community College has a Center for Business and Industry, which offers training services for employers and employees, both in the classroom or at the work place. More information may be obtained by calling 201-714-7304.

Kean College houses the local Small Business Development Center (SBDC) which provides counseling by appointment and offers assistance in all aspects of running a business. The SBDC may be reached at 908-527-2946.